Peruvian inti

For other uses, see Inti (disambiguation).
Peruvian inti
ISO 4217 code PEI
Central bank Central Reserve Bank of Peru
 Website www.bcrp.gob.pe
User(s)  Peru
Subunit
 1/100 céntimo
Symbol I/.
Plural intis
Banknotes 10, 50, 100, 500, 1 000, 5 000, 10 000, 50 000, 100 000, 500 000, 1 000 000, 5 000 000 intis
This infobox shows the latest status before this currency was rendered obsolete.

The inti was the currency of Peru between 1985 and 1991. Its ISO 4217 code was PEI and its abbreviation in local use was "I/." The inti was divided into 100 céntimos. The inti replaced the inflation-stricken sol. The new currency was named after Inti, the Inca sun god.

History

The inti was introduced on 1 February 1985, replacing the sol which had suffered from high inflation. One inti was equivalent to 1,000 soles. Coins denominated in the new unit were put into circulation from May 1985 and banknotes followed in June of that year.

By 1990, the inti had itself suffered from high inflation. As an interim measure, from January to July 1991, the "inti en millones" (I/m.) was used as a unit of account. One inti en millones was equal to 1,000,000 intis and hence to one new sol. The nuevo sol ("new sol") was adopted on 1 July 1991, replacing the inti at an exchange rate of a million to one. Thus: 1 new sol = 1,000,000 inti = 1,000,000,000 old soles.

Inti notes and coins are no longer legal tender in Peru, nor can they be exchanged for notes and coins denominated in the current nuevo sol.

Coins

Coins were introduced in 1985 in denominations of 1, 5, 10, 20 and 50 centimos (designs were taken from the previous 10, 50, 100 and 500 soles de oro coins), plus 1 and 5 intis. The 1 céntimo coin was issued only in 1985. The 5-céntimo coins were issued until 1986. All the other denominations were issued until 1988. All coins featured Navy Admiral Miguel Grau: cent coins on the reverse, Inti coins on the obverse.

Banknotes

In June 1985, notes were introduced in denominations of 10, 50 (taken from previous 10,000 and 50,000 soles de oro notes) and 100 intis, followed by 500 intis in December of the same year. The next year, 1,000 intis notes were added, followed by 5,000 and 10,000 in 1988. 50,000 and 100,000 intis notes were added in 1989. 500,000 intis denominations were added early in 1990, 1 million intis denominations were added in mid-1990, and 5 million intis in August 1990. The obverses featured:

500 intis with a portrait of Túpac Amaru II.

See also

External links

This article is issued from Wikipedia - version of the Thursday, April 28, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.